All Administration articles – Page 19
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OpinionFive challenges in pensions administration for 2019
The Pensions Administration Standards Association’s Lorraine Harper argues that 2019 could see the administration of pension schemes reach a tipping point from which it could change irrevocably.
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OpinionWill DC pensions be the next big litigation target in the UK?
A lack of engaged and educated savers in defined contribution means pension money is ‘sticky’ for providers. Redington’s Natalie Flood raises the prospect that where fiduciaries do not tackle legacy issues on behalf of their members, they could open themselves up to a backlash.
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PodcastsPodcast: Next steps for the pensions dashboard project
Podcast: Earlier this month, the Department for Work and Pensions published its long-awaited feasibility report and consultation on how the industry can create online pensions dashboards. What does the industry make of the study? And how much progress is needed to make the project a success? In this episode, Girish Menezes, board director at the Pensions Administration Standards Association, and Anthony Rafferty, managing director of fintech company Origo, discuss compulsion, dashboard governance and data.
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News
Tower Hamlets completes £700m equity protection strategy
On the go: The London Borough of Tower Hamlets Pension Fund has undertaken a £700m equity protection strategy with Schroders.
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Features
Could co-sourcing be the answer to rising pensions admin woes?
Analysis: Uncertainty is an overused word in the pensions landscape, yet it is particularly appropriate when we speak of administration, which is teetering on the brink of crisis.
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OpinionIncreased self-service will boost data quality and raise admin standards
Good-quality, complete data is essential for pensions administration. Heather Quelch, head of pensions administration at TPT Retirement Solutions, discusses data cleansing and the importance of self-service for members.
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News
ACA and Royal London call for radical simplification of DB rights
Consumers and employers could reap substantial benefits if the complex patchwork of defined benefit pension rights could be radically simplified, according to a recent policy paper.
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OpinionWhy does DC still go wrong?
Manual interventions in automatic processes mean there is still the potential for defined contribution administration to go wrong. Taking a step back could help trustees and administrators spot mistakes before they are too difficult to unpick, says the Pensions Management Institute’s Lesley Carline.
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News
How far away is the pensions dashboard from becoming a reality?
A complete and up-and-running pensions dashboard could be years away, according to experts, as implementation and credibility concerns come to the fore.
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Features
Notts to report itself to TPR after employers botch data
The Nottinghamshire County Council Pension Fund is set to report itself to the Pensions Regulator after failing to produce some of its annual benefit statements on time.
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FeaturesBarnet in TPR breach as Capita misses payments
The London Borough of Barnet Council has reported itself to the Pensions Regulator after failing to produce 447 pension benefit statements on time.
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News
Regulator issues Scottish teachers' scheme with improvement notice
On the go: The Pensions Regulator issued the Scottish Teachers’ Pension Scheme 2015 with an improvement notice earlier this year, following the scheme’s failure to provide benefit information statements to around 14,000 members.
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OpinionMember focus key to in-sourcing success
The Pension Protection Fund’s Sara Protheroe says moving member services and the administration of the Financial Assistance Scheme has improved the experience of those the scheme provides for, but such processes require serious commitment from all involved.
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OpinionCash flow management is DB’s new admin headache
From the blog: The balance of payments for defined benefit pension schemes has shifted. With estimated active DB members numbering less than 500,000 and more than 5m members in receipt of their pension, most DB schemes have a negative cash flow.
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News
Opperman's consumer choice AE meeting draws ire of industry
Workplace pension providers and advisers have expressed fury at reports that minister for pensions and financial inclusion Guy Opperman will attend a meeting to discuss letting members choose their auto-enrolment provider.
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NewsAviva customers hit by system glitch
Pension provider Aviva has admitted that a number of its customers were unable to access their pension policies on its MyAviva system. The delays have prevented some customers from transferring their pensions.
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OpinionNew guidelines provide carrot and stick on DC administration
From the blog: As a trustee, I welcome with open arms the new DC Administration Governance Guidance issued earlier this summer by the Pension Administration Standards Association.
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NewsNHS pensions delayed after in-house admin transition
NHS workers are experiencing delays when claiming their pensions, owing to glitches after payroll administration was moved in-house from third-party administrator Equiniti.
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OpinionGarbage in, garbage out
Girish Menezes, a board director at the Pensions Administration Standards Association, highlights the need for collaboration between trustees and administrators to ensure a high-quality member experience, while managing costs and delivery expectations.
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Features
Automation improves insurer scheme admin but work still to do
The Royal Insurance Group Pension Scheme has reported a “considerable improvement in service” from administrator Willis Towers Watson, after two years of problems that have hurt the scheme’s ability to service transfer requests.